Current Events > I make 60k right now and I feel poor.

(+) Yeah! (+)

I mean did I have to move across the country and not work for 2 months until my academy started. So my bank account took a dip. But I still want more lol

1,300 rent
250 car
100 phone
40 power
15 gas
120 internet/cable

I feel poor man.

4 more months and I get a 6 dollar raise at least lo
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Where you live
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Nv
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Don't fall into the trap of labeling your relative comfort as 'poor'. Really destroys the meaning of the word, and likely has psychological impacts.
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Is your rent average, Im thinking about moving west but my car payment is 616? I make 60k just about.
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I felt extremely comfortable with my income until I bought a house.

I still feel reasonably comfortable, but also feel the need to be financially responsible and vote down anything that looks like a property tax increase.
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No, couple hundred dollars higher. We just moved last weekend. We had a 1000 dollar unit. Moved a 1,300 unit with hardwood floors, stainless steel appliances and such because carpet sucks with dogs
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You forgot to add groceries.
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So your take home pay is probably around 4k per month, after all taxes?

Which means you're saving about 2k per month, ~20k per year. If you play it all right, maybe in like 5 years or so you can put a down payment on a house and settle down permanently, itll be a good investment. Also you should get married so you can double your income.
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darkprince45 posted...

1,300 rent

That's it?
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COVxy posted...

Don't fall into the trap of labeling your relative comfort as 'poor'. Really destroys the meaning of the word, and likely has psychological impacts.

Psychological impacts ?

DanHarenChamp posted...

So your take home pay is probably around 4k per month, after all taxes?

Which means you're saving about 2k per month, ~20k per year. If you play it all right, maybe in like 5 years or so you can put a down payment on a house and settle down permanently, itll be a good investment. Also you should get married so you can double your income.

Easier said than done
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EducatedGuy posted...

Psychological impacts ?

There seems to be a link between thinking in terms of relative wealth and misperceptions of financial health.
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$120 internet, lol
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Captain_Qwark posted...

Cut cable out

That's stupid. Internet is 110 dollars here. For 10 dollars more we get cable and a phone line. Watching the patriots game right now

It's almost cheaper to combo these days
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My woman doesn't work and I do get a police pension and have a 401k I contribute too.
And yeah I'm getting a house in the summer not waiting 5 years

Got some program here where they give a little over 5 grand for being a veteran plus va home loan
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Does your girlfriend plan to get a job anytime soon?
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Maybe. I don't really care if she does. Makes taking care of our dogs a lot easier. Plus coming home and having dinner ready and my lunch packed every day is legit. Getting my dry cleaning and and doing all the housework is nice
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darkprince45 posted...

Captain_Qwark posted...

Cut cable out

That's stupid. Internet is 110 dollars here. For 10 dollars more we get cable and a phone line. Watching the patriots game right now

It's almost cheaper to combo these days

out of those expenses phone seems a bit high :( wish i made a bit more after the next year is over i'm going to switch internet companies.
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*shrug" dual income would for sure make things nicer though
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Yeah it would. But never having to cook, clean, buy groceries, take the dogs to use the bathroom is almost worth it.

After probationary period the average is about 100k with the amount of OT

So I'll be aight Inabout 2 years
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Do you live below your means?
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$60K in California is considered poverty level. If you make less than $100K here, you're considered poor.

What kind of car do you drive?

darkprince45 posted...

I mean did I have to move across the country and not work for 2 months until my academy started. So my bank account took a dip. But I still want more lol

1,300 rent
250 car
100 phone
40 power
15 gas
120 internet/cable

I feel poor man.

4 more months and I get a 6 dollar raise at least lo

what are your contributions to retirement planning?
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DanHarenChamp posted...

So your take home pay is probably around 4k per month, after all taxes?

I have a friend who is making 60k and takes home 3 grand a month after taxes and paying for insurance, 401k, etc.
just signed a lease for $1600 / mo on top of a $300 / mo loans so ayyy
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Huh I'll be making 3-4 times as much as you at my first job lol

KhanJonson posted...

Huh I'll be making 3-4 times as much as you at my first job lol

You're going to be making almost 200k as your first job?
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donkeyjack posted...

Do you live below your means?

Yeah don't really spend much on anything except essential stuff lately. Did have to buy like 3k in police gear the last month so that's been annoying

I drive a 2016 mustang, and I contribute i think 200 a check.
I got pension, couple weeks vacation, couple weeks worth of sick and personal days, paid for healthcare, vision, dental.
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darkprince45 posted...

KhanJonson posted...

Huh I'll be making 3-4 times as much as you at my first job lol

You're going to be making almost 200k as your first job?

Yep as a lawyer

Oh good for you lol. I'll cap at around 100k as soon my probationary period ends. I'm happy with that
For only having Highscool and a couple semesters the army paid for I'm not going to complain
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darkprince45 posted...

Oh good for you lol. I'll cap at around 100k as soon my probationary period ends. I'm happy with that
For only having Highscool and a couple semesters the army paid for I'm not going to complain

I like to brag about it but realistically after 3-5 years I wont be making anything close to that anymore because everyone burns out of the biglaw jobs

100k is a lotta money and hardly anything to complain about lol

True
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Honestly with rent that high and supporting 2 people on that income, I wouldn't call you poor, but you're definitely living way beyond your means. It sounds like you already know the tradeoffs that would come with a 2nd income, though.

Basically tough shit, and the only thing you can do for now is move somewhere cheaper.
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darkprince45 posted...

Cubs, Rockies, Grizzlies, Patriots.

did you pick your favorite sports teams by blindfolding yourself and throwing a dart at a map of the US
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darkprince45 posted...

My woman doesn't work and I do get a police pension and have a 401k I contribute too.
And yeah I'm getting a house in the summer not waiting 5 years

Got some program here where they give a little over 5 grand for being a veteran plus va home loan

So she's literally a homemaker... In an apartment and with no kids?
Dude. She needs to be doing something.
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Enjoy the housework while it lasts. My ex spent two years unemployed and eventually refused to do anything around the house.
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Can you use GI benefits to get tuition covered for her? If not maybe she can at least get a clercal job at the precinct.
Having her not do anything is a recipe for disaster. Like the other guy said, she's going to get lazy and it is going to cause problems.
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I feel you. I make $52k with benefits as an OB/Gyn resident and I barely have enough to transfer to savings.
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Ya, even if she isn't working, is she doing something with her time apart from cleaning and cooking? Hobbies, etc
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Drpooplol posted...

Honestly with rent that high and supporting 2 people on that income, I wouldn't call you poor, but you're definitely living way beyond your means. It sounds like you already know the tradeoffs that would come with a 2nd income, though.

Basically tough shit, and the only thing you can do for now is move somewhere cheaper.

Not really im still able to save a grand month
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MrPeppers posted...

I feel you. I make $52k with benefits as an OB/Gyn resident and I barely have enough to transfer to savings.

What is your monthly budget?
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darkprince45 posted...

Drpooplol posted...

Honestly with rent that high and supporting 2 people on that income, I wouldn't call you poor, but you're definitely living way beyond your means. It sounds like you already know the tradeoffs that would come with a 2nd income, though.

Basically tough shit, and the only thing you can do for now is move somewhere cheaper.

Not really im still able to save a grand month

I'm guessing you used to be able to save more and now feel scared because it doesn't feel as if you are saving a lot. I know that feel. The best thing to do once you have an emergency fund of 3-6 months of expenses saved is to invest money into things that grown in value so that your savings grow.
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Yee. What killed me is the cost of this job. Couple grand to move two cars, our stuff and pets across the country.

2 months with no income until the job started. Couple grand to buy all the gear. Been playing catch up lol
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darkprince45 posted...

Drpooplol posted...

Honestly with rent that high and supporting 2 people on that income, I wouldn't call you poor, but you're definitely living way beyond your means. It sounds like you already know the tradeoffs that would come with a 2nd income, though.

Basically tough shit, and the only thing you can do for now is move somewhere cheaper.

Not really im still able to save a grand month

I don't see how, with your budget in the OP and food for two people, supplies for dogs, and other miscellaneous items.
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A person making 30 grand in the midwest lives better than a person making 60 Grand on the coast

Crazy
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BignutzisBack posted...

A person making 30 grand in the midwest lives better than a person making 60 Grand on the coast

Crazy

That's not really remotely true at all. I moved here from IL lol. I was making 25 dollars an IL. My apartment cost the same and it was a 1 bedroom craphole. Here I have a 3 bedroom with hardwood floors, private/gated community, designated parking spot, garage. Cost of living is way cheaper here
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